Tesco vows to rein in prices as profits treble
Tesco announces a sharp rise in profits but warns it will come under pressure from rising inflation. …
However, products that require a lot of energy to produce are experiencing the highest cost pressures. Tesco accepted a 20% cost price increase in milk from its suppliers less than two weeks ago. However, the UK’s largest dairy Arla recently warned that with cost increases of some 36%, farmers faced tough cost challenges.
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